Debt Consolidation
Compare your current debts against a single consolidated loan to see if you save money.
Current Debts
Total Debt: $28,000
Current Monthly: $850.00
Consolidation Loan
Early exit fees from existing loans, discharge fees
Monthly Saving
$288.94
⚠️ Warning: While your monthly payment may decrease, consolidating short-term debts (e.g. credit cards) into a longer-term loan could increase the total interest paid over the life of the loan. Consider keeping the same or higher monthly payments to pay off the consolidated loan faster and reduce total interest. Factor in any break costs or discharge fees from existing loans.
Important Information & Assumptions
This calculator is a general information tool only and does not constitute financial product advice. It is not intended to be relied upon for the purpose of making a decision in relation to a financial product. You should consider obtaining advice from a financial services licensee before making any financial decisions.
The results are estimates only and are based on the assumptions you have provided. Actual amounts may vary depending on your individual circumstances, interest rates, fees, and other factors not accounted for in this calculator.
All default assumptions used in this calculator can be changed by you. Default values are indicative only and may not reflect current market conditions or your personal situation.
Where results project amounts payable at a future time of 2 or more years, those amounts are not adjusted for inflation and are expressed in today's dollars unless otherwise stated.